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Difficult Thinking About Institutional Change Ii: Organic Or Ordered Competition?

1 Comment / Economics, Electricity / By

Lynne Kiesling My first stab at answering the question at the end of my previous post starts with what I think is a basic claim, but one that does not get discussed much, or well, in electricity policy debates: All other things equal, organic competition outperforms ordered/managed competition in delivering long-run dynamic benefits to both …

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Profile Of Ronald Coase, And His Penguin … ?

5 Comments / Economics / By

Lynne Kiesling Thanks to the invaluable Will Wilkinson for his link to this U. of C. Chronicle article profiling Ronald Coase: Coase said that ?it?s very difficult to imagine a system that would work better than one with private property rights and a market: mechanisms that have proved themselves repeatedly against regimes where central authority …

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Virginia Postrel’s written a must-read Economic Scene column in today’s New York Times. Its topic is specialization, and specifically the move away from vertical integration in the structure of many industries. Technological change has contributed to making this move possible and profitable. There’s a large field in new institutional economics that explores precisely this dynamic. …

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Uncategorized / By

Virginia Postrel’s written a must-read Economic Scene column in today’s New York Times. Its topic is specialization, and specifically the move away from vertical integration in the structure of many industries. Technological change has contributed to making this move possible and profitable. There’s a large field in new institutional economics that explores precisely this dynamic. …

Read More »

Uncategorized / By

Virginia Postrel’s written a must-read Economic Scene column in today’s New York Times. Its topic is specialization, and specifically the move away from vertical integration in the structure of many industries. Technological change has contributed to making this move possible and profitable. There’s a large field in new institutional economics that explores precisely this dynamic. …

Read More »

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